Singapore’s Housing & Development Board (HDB) flats have been named the “most attainable homes” among Asia Pacific’s (APAC’s) capital cities, according to the 2025 Urban Land Institute (ULI) Asia Pacific Home Attainability Index. While it sounds like good news, many locals questioned what “attainable” really means in Singapore.
ULI defined “attainable” housing as homes costing no more than five times the median annual household income, which is consistently met by HDB flats. Notably, among 51 urban housing markets surveyed, only seven were found to offer attainable home ownership, and Singapore’s HDB system was the only one in a national capital.
Despite rising urban costs across the region, the report found that the city-state’s public housing system, which houses 80% of the population, remains within reach for median-income Singaporean households, compared to those in Hong Kong, Tokyo, or Sydney. Still, some Singaporeans said the housing prices in the city-state continue to rise.
One commenter also pointed to the shrinking sizes of homes in the city-state, saying, “Look at the new flat sizes. It is not liveable at all. Look up at the windows of the nice new flats. So many clothes [are] hanging there because [there is] no proper laundry space!”
The ULI report explained, pointing to Singapore’s HDB system, that “Operating a similar scheme is more difficult in countries where the government has less control of freehold land.”
While many cities in APAC face rising prices, limited land, and speculative demand, Singapore’s centrally planned and subsidised housing has helped keep home ownership within reach for citizens, although access remains limited for non-citizens due to the 60% Additional Buyer’s Stamp Duty on foreign buyers.
